April 10, 2024

Building Confident Leaders through Financial Literacy

Giving the members of our community the power to build a secure financial foundation is the goal of BayCoast Bank’s financial literacy programs. We believe the stronger our financial capabilities, such as tracking personal spending, budgeting, and controlling debt, the more confident we can become, making more informed financial decisions that can lead to a fulfilling life with greater stability.

BayCoast Bank is proud to work with YouthBuild Preparatory Academy (YBPA) in Providence, Rhode Island, which provides an educational experience focused on engaging young men of color, preparing them to be confident, civically engaged leaders. The Academy promotes social and emotional wellness for each student, providing academic support while serving the unique needs of students from urban core communities.

The Academy’s model is comprised of academic coursework and applied learning that creates community leaders who successfully transition into meaningful post-secondary careers and educational programs. The collaboration between BayCoast Bank and the Academy ensures that young people stay engaged in learning, while having access to critical educational opportunities, which include financial literacy.

The financial literacy class at YBPA, which is supported by BayCoast Bank, gives students the knowledge and skills they need for responsible money management. The Money Smart curriculum provided by BayCoast, consists of 12 modules with a variety of topics to help young adults confidently control their finances, including: budgeting, understanding and effectively using credit, managing debt, and more. At the completion of the Money Smart program, students participate in a Credit for Life Fair, where they put their financial knowledge into practice, to see if they can manage a budget and survive the monetary challenges that await them in the real world.

“The financial literacy programs we provide YBPA offer money management skills that will last a lifetime,” said Lucia Rebelo, AVP, Financial Literacy Education Officer for BayCoast Bank. “We are so proud to partner with YouthBuild and offer these interactive programs that are essential to building strong financial habits and allowing students to be proactive about their financial futures.”

Students say they are energized by the Credit For Life program, which for many, has inspired an entrepreneurial spirit. “My experience doing the Credit for Life Fair was very insightful. I learned how to budget and how to be smart with my money,” said student Dayanara Felix M. “I definitely would recommend this to anyone.”

“The YouthBuild Preparatory Academy hopes to continue its partnership with BayCoast Bank as we strive for two objectives – dropout prevention and recovery – through the school’s unique liberatory education and the Bank’s engaging financial literacy programs,” said Venus Wolo, Director of Workforce Development and Partnerships. “We are grateful for BayCoast’s support.”

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